This year’s National Reverse Mortgage Lenders’ Association’s annual policy conference, to take place May 10-11 in Washington, D.C., will offer attendees access to policymakers and the opportunity to discuss the most current topics of concern in the industry. With many new topics on the table this year, the policy climate has changed as well.
“In the year since we did the last Washington policy conference, Republicans have become the majority party in the House, so the chairs of all the committees are new. The FHA commissioner, David Stevens, has left, the Dodd-Frank Bill has set up the Consumer Financial Protection Bureau, and Elizabeth Warren is organizing it now with her staff,” says NRMLA’s senior vice president, marketing and communications, Marty Bell.
“As usual, there have been major changes throughout our industry. When there are new people, it’s extremely important that the industry engage them in a dialogue. That what this year’s conference is.”
NRMLA will bring representatives from the House committees as well as their staffers to address current issues regarding the HECM program and reverse mortgage industry. In a year that has seen a major lawsuit by AARP, changes to loan officer compensation and other impactful changes in regulation, NRMLA anticipates there being a lot to talk about.
“There are a lot of issues on the table, not the least of which is the CFPB having to do a report on the sector,” says Bell. “We’re expecting the $625,000 loan limit to expire and don’t know yet whether it will be renewed.”
In advance of the conference, NRMLA advises attendees to meet with their local representatives. The association will offer a webinar on April 26 guiding attendees through the process, and has posted guidance at NRMLA.org. There will also be a quick session at the conference for last-minute preparation.
Bell recommends bringing one to two talking points to meetings with representatives to help direct the discussion and keep it focused.
“This is everybody’s one chance to interact with the people who make policy and meet face to face,” Bell says.
Find out more about NRMLA’s policy conference 2011.
Written by Elizabeth Ecker